Here's what I've done:(1) I received $12 of income from this PTP that came from the foreign source. I only received $9 of it in a distribution this year, but IR...
To answer my own question about accrual versus cash basis recognition of income, it looks like for someone that is making the election to treat the PFIC as a QE...
I've received a Schedule K-1 showing that the publicly traded partnership in which I owned shares was invested in a PFIC (passive foreign investment company). I...
